silver is about hold a news conference about the racial comments made by donald sterling. melissa francis is here. melissa: it is judgment day for los angeles clippers owner donald sterling. the newly minted nba commissioner promise as investigation into sterling's alleged racist rant. in minutes he delivers. we'll bring you the commissioner's remarks live. a tweet that is settings off firestorm. twitter campaign has us here at money raising the red flag. flyers beware, the outrage as another major airline carrier piles on fees for using perks like overhead bins. is ha a perk? even when they say it is not it is always about money. melissa: we have breaking news on the controversy surrounding los angeles clippers owner

donald sterling. any moment now, nba commissioner ad sam silver will make an -- adam silver make announcement on the investigation. let's go straight to the our panel and i inspiration for "jerry maguire," leigh steinberg, we have sports attorney lee olenick and sports business journal adam kaplan and fox news's brian kilmeade. give me the legal perspective on this one. what can he do. >> what he can do the commissioner can suspend him indefinitely and fine him up to 2. a million dollars. constitution and within the bylaws allows for that. he can get rid of him. melissa: lee, that is not really get rid of him. do you feel like that is meaningful punishment? if he suspended not doing business at work but could do anything from anywhere. a few million dollars will not make a difference for somebody worth billions. do you that is meaningful. >> what's going to happen here, they will indefinitely suspend

him and they will start pushing to get the franchise transferred over. this is his last day as active owner of the clippers. they will force a trade. the whole nba is threatened by this. every revenue source is threatened by it. the nationwide furor is pushing for it. the nba and players are united. they will get rid of donald sterling. they can't take the team from him. they can take away his ability to run the team. and then they will push for a sale. and there are a lot of willing buyers. this will be behind us. melissa: to our viewers. you're looking at screen right now, that is the new york hilton in midtown new york. that is where we're expecting nba commissioner adam silver at any moment to come on. as soon as he starts speaking we'll go to that live. brian, let me ask you, do you agree what you heard so far. >> i do. "tmz" who started this whole thing and word is done. i will share what "tmz" is reporting.

the commissioner will suspend donald sterling indefinitely like lee mentioned and impose a million at this million dollar fine but sterling will not be forced to sell the team. the suspension does not include members of his sterling's family. like the san francisco 49er, eddie depart toe low situation where it went to his sister in the immediate family. he is out and there is a fine. melissa: that is what "tmz" is reporting. that is not what fox news is reporting. we want to make sure that we make that clear. daniel, what do you think about that? what does that mean? do you think that in in that situation he would be ultimately forced to sell the team even in that situation. >> whether the nba can force him or not, and they can't under thereby laws and constitution, marketplace realities will likely dictate it. not only are sponsors are pulling out. ticket renewals will have to go out. who will renew their season tickets to a team owned by

donald sterling. whether he wants to go or not, also who will sign with the team? what free agent players will sign with the team. beyond the nba's authority, there is marketplace reality. melissa: lee, let me ask you, you're a sports agent. if he just suspended and still the owner would that impact the ability of them to place players on the team, if he is supposedly not actively running day-to-day but still the owner? >> these are the most blatant comments i've seen by an owner on racial issue ever. melissa: right. >> this is not a single person black or white that will sign with that team. this is not a black versus white incidentally. every single this country who is not, doesn't have racial animus is condemning this. melissa: even if he is fined and suspended, what "tmz" is reporting, if that is the reality we hear here in a few minutes even then no one would sign with the team? >> i predict this is just the beginning. behind the scenes as daniel said, market forces are going to push him out.

he can't walk out in public in southern california at this point. this will end up with the team being sold and, it will happen before next season. melissa: steve, do you agree with that? if he is suspended, is it enough to bring any sponsors back? >> well, yeah. i mean that's the key. melissa: it is the key. >> you have to suspend him. you have to. this show is about money. it is all about the money. the sponsorships are key here. the nba wants to see the sponsorships back and you know, i know just because i deal with some of the players that actually play on the team -- melissa: what are they saying by the way? what are they saying to you? >> they're disappointed and, you know, they have a job to do. they're in the playoffs. this is a huge distraction. i think that hopefully this is resolved quickly enough that everyone can just move on. >> are they saying they want to get off the team or do they think something really is going to change? >> they, i think it's, more the latter, that something is

changed. so immediately. melissa: yeah. daniel, do you agree with that and, you know, in order to get the really full support of the community and sponsors back does he have to make moves to put the team up for sale or sell it? >> oh, yeah. this is step one for the nba today. this is the not endgame, indefinite suspension and a fine. this is just step one. they are going to do what they can to push him out. as i said, i think marketplace forces will do that. but if he, if situation today were the status quo, that would clearly not be enough. he has to go. melissa: yeah, brian, what is frustrating about this he paid, 12 or 18 milliondollars, $12 million in the '80s for this team. if he is quote, unquote, forced to sell it, he could get 700 million, 800 million. there is a whole bunch of different numbers floating around what the team is actually worth. forced to sell, he still has made an enormous profit. is that annoying? >> no. not really. that is the way business works.

you know better even than me. i was in los angeles interviewing leigh steinberg whenever he would take my phone calls when i was on sportssports radio, they were biggest joke. they couldn't get anyone to their games and he wouldn't spend money on players. franchise is not worth anything. he decides to hold on draft picks and changes general manager and gets 57 wins. the worth of something is here. he is here and players keep rotating but the franchise is growing. so far they picked the right venue. i'm very interested to see what is going to happen tonight. for example, if he is suspended do players come out with shorts reversed? do fans do the same thing? do they listen to the coach of the other team and mark jackson, boycott the became which he said with his tongue in his cheek and great to go on the road and not have enemy fans yelling at you? there is lot of action going on in front of the building on top of that regardless what is going on in a matter of minutes. melissa: brian -- go ahead. >> the players have to tune all

this out. they have have an ability to have a quiet mind. they're always surrounded by distractions. this is obviously over the top but, players have unique ability to focus. i think they were impacted on sunday but they have got to win in spite of donald sterling. they have to win because they started in october working for a goal and now it's close to it. sterling will be long gone but what happens in the playoffs will be right here. sterling's never been a popular figure in los angeles. melissa: that is exactly where i was going to go next. is, you all have been involved with this and covered this for a long time. this is not a big surprise, right? that this is -- >> i live here. melissa: go ahead, yeah. >> i live here. he has never been popular. he buys big ads in "the l.a. times" touting his charitable contributions. in his picture in there many inches high, every single month. so he's, he's all about that.

if, taking the team from him is the worst thing you could ever do. he loves being in the spotlight. melissa: even if he makes an incredible mint and ups his fortune by another billiondollars doesn't matter? >> wry an referenced the depart toe low situation where he was involved in gambling. all ed wanted to do was own the team. that was his life. instead he got a lot of money from his sister. she ended up running the team. that was the worst punishment you could ever do. donald sterling who enjoys being on the cutting-edge in the spotlight surrounded by celebrities will now be out of that. and he has got $2 billion. so money is not a concern to him. he is about to be exiled. this is like 1984 with your worst fears in the little cell. this is his worst fear. melissa: brian, do agree with that? >> absolutely, 100%. obviously not doing for the money at this point. he wants to sit in front row and myriad of girlfriend and his wife. can't figure out that situation.

melissa: you need a chart. >> in terms of the sports angle they have one the most eloquent coaches, one of the greatest leaders, one of the best people running that team in doc rivers and he is the type of guy that can use this to rally his team. however he has made it clear he might not come back next year, depending on the situation that comes down. so this franchise could end up in disarray. there is a lot of different, there is a lot of different storylines milling about around this because it is no longer the clippers, the butt of everybody's joke and laker are the big team on the block. the world has flipped upside down of the clippers are intryinging, they're young, exciting with this charismatic coach. let's see if they get to the 57 wins and look to do something in the playoffs to spiraling downward again. melissa: but you know, i would ask any of you, maybe steve, you can start, when you look at somebody like doc rivers who is inspirational, everyone is behind, this can't be a surprise to him though this is who this guy is? he deals with him on a day-to-day basis. not like he could have kept

these beliefs tucked away. if you're like this, you're like this, right? i mean he already been living in this climate. steve, go ahead. >> one one hers, this show is all about the money and doc rivers was paid very handsomely to take that job. melissa: but it is not enough now? >> well, no now it's not. it is not now because a lot of people are just fed up and they're disgusted by this. and so, but, with that being said, it is about the money in terms of what a lot of people, there is lot of these players that are playing for second contracts, marketing. i mean, they're just not going to stop playing. melissa: yeah. >> that is not -- melissa: daniel, you agree with that. >> i totally agree with that. what we're going to see in the next five, 10 minutes, when adam silver is going up there, he is cleaning up his predecessor's dirty laundry david stern would not clean. it is no secret donald sterling is like this. one of the great black marks on i believe stern's legacy,

orchestrated the trade of chris paul to donald sterling's team even though well-known sterling had this racist comments and decision by the department of justice against his he will real estate company about discrimination. silver has to undo the damage. it is significant damage. melissa: lee, do you agree with that? that is interesting perspective what it says about david stern? >> first of all you have to ask yourself, given the fact that elgin baylor had a lot to say about racism when in his own lawsuit and department of justice do the same thing. now you have players coming out of the woodwork who are saying talking about states he made, why did it take this long? that is the first question. and this is, amazing test for adam silver. can you imagine being the job of your dreams and a couple months into it the irony of this all, is that this is a laker town. it's a laker town and i love the

clippers but it's a laker town. this is their chance to finally retake los angeles and -- melissa: does this help our hurt that? if you have a change in ownership, they have a fresh start, does it help them take over from l.a.? i'm from l.a. originally. i understand it's a laker town but also a lot of fair weather fans in l.a. originally from somewhere else. it's a town where people root for other teams as well. >> not anymore. melissa: no. >> thank you. i'm part of the first generation of angelinos born here and the lakers have the heart of the town. however, frank mccourt did everything he could to screw up the dodgers and people were staying away from games. they were doing all sorts of things. couldn't stand him. leaves. the next group comes in, the dodgers are on top again. so a new owner who's pr savvy, community savvy, marketing savvy, will have a real chance to, to build on this because lakers are not going to win for

the next three years. the clippers are the team with the real chance. melissa: yeah. >> and i think they will turn this all around. they're going to play in spite of donald sterling. melissa: yeah. >> in a few minutes you're going to see the pin go into the balloon and a lot of this anger and outrage dissipate because the ding-dong, the witch is dead. melissa: i just want to remind viewers who are joining us right now we're awaiting for a press conference to begin at the new york hilton in midtown new york. this is nba commissioner adam silver's big decision on what to do about donald sterling who is the owner of the clippers, who of course has been alleged to make some very racist remarks that since friday have been all throughout the media. we're watching him approach the podium right now. >> thank you all for being here. i apologize for starting a little bit late. shortly after the release of an

audio recording this past saturday morning, of a conversation that allegedly included clippers owner donald sterling, the nba commenced an investigation which among other things included an interview of mr. sterling. that investigation is now complete. the central findings of the investigation are that the man whose voice is heard on the recording and on a second recording from the same, from the same conversation that was released on sunday is mr. sterling and that the hateful opinions voiced by that man are those of mr. sterling. the views expressed by mr. sterling are deeply offensive and harlful. -- harmful. that they came from an nba owner only heightens the damage and my personal outrage.

sentiments of this kind are contrary to the principles of inclusion and respect that form the foundation of our diverse, multicultural, and multi-ethnic league. i am personally distraught that the views expressed by mr. sterling came from within an institution that has historically taken such a leadership role in matters of race relations and caused current and former players, coaches, fans and partners of the nba to question their very association with the league. to them, and piniers of the game like -- pioneers of the game, early lloyd, chuck cooper, sweet water clifton, the great bill russell and particularly magic

johnson, i apologize. accordingly effective immediately, i am banning mr. sterling for life from any association with the clippers organization or the in ba. mr. sterling may not attend any nba games or practices. he may not be present at any clippers facility and he may participate in any business or player personnel decisions involving the team. he will also be barred from attending nba board of governors meetings or participating in any other league activity. i'm also fining mr. sterling $2.5 million, the maximum amount

allowed under the nba constitution. these funds will be donated to organizations dedicated to antidiscrimination and tolerance efforts that will be jointly selected by the nba and its players association. as for mr. sterling's ownership interest in the clippers, i will urge the board of governors to exercise its authority to force a sale of the team and will do everything in my power to insure that that happens. this has been a painful moment for all members of the nba family. i appreciate the support and understanding of our players during this process and i am particularly greatful for the

leadership shown by coach doc rivers, up union president chris paul, and mayor kevin johnson of sacramento, who has been acting as the players representative in this matter. we stand together in condeming mr. sterling's views. they simply have no place in the nba. thank you, and i will take any questions. much. >> take questions now. start with scott in the back right. >> adam scott, bloomberg. do you or any of your emissaries have any clue whether mr. sterling will acquiesce your wishes to sell the team or do you expect a fight? >> i have no idea. >> take the next question, right here, rachel. >> from polling the owners that you have spoken to what support do you think you have to force mr. steriling to sell the team?

>> i didn't poll the owners. i spoke to several owners, and i have their full support. >> on the right, brian. >> from associated press. what kind of authority do they have to force a sale? >> the owners have the authority subject to 3/4 vote of the ownership groups, of the partners to remove him as an owner. >> fifth row in the middle. >> i'm lisa guerrero with "inside edition." the word you used specifically was outrage. you said that you were personally outraged yet many people believe that they are outraged that for years people have known that this man is a racist, slum lord, and the nba hasn't done anything until today. can you please answer why? >> i can't speak to past actions other than to say that when specific evidence was brought to

the nba, we acted. >> okay. >> over here, second row on the left. >> fox news, kelly file. should someone lose their team for remarks shared in private or is this a slippery slope? >> whether or not these remarks were initially shared in private, they are now public and they represent his views. >> fifth row in the middle. tim? get a microphone there, please. >> "new york post." adam, what was the process to come to this decision over the last couple days and when did you decide that this was the appropriate action to take? >> i ultimately decided this morning that this was the appropriate action and the process beginning saturday morning when this first, when this tape was first released was, to appoint an investigator. it was david anders from the

wachtel lipton firm. he conducted a series of interviews, some by phone, some in person. he concluded his investigation late last night. >> 7th row on the left, jeff. give the microphone to jeff, please. no, jeff, right there. 7th row on the left. >> jeff, "usa today." adam, you said you would encourage owners to force the sale of the clippers. when will that action take place? >> the process will begin immediately. we will most likely use a standing committee of the nba, or the live went of our executive committee is our advisory finance committee. i've had several discussions with glen taylor, who is our chairman of the board and also the leader of the advisory finance committee and we will begin that process immediately. >> third row on the end. howard. >> howard beck, bleacher report. adam, in your conversations with sterling, did he own up to this immediately? was it only after you guys had

come up with some sort of proof? what if anything has he expressed approaching remorse, regret, anything? what is his sentiment at this point? >> mr. sterling acknowledged it was his voice on the tape and he has not expressed to me directly any other views. >> okay. we'll go right here, please. >> and drew row zare row. commissioner, right here -- andrew rosario. what do you have for the clippers and their fan base and moving forward from this point on? >> my message to the clippers fans that this league is far bigger than any one owner, any one player. this institution has been around for a long time and will stand for a long time. i have complete confidence in doc rivers, in the bass kel ball management of that club and the players deserve their support. they have just been through an incredibly difficult incident in their lives. >> on your left, harvey. over against the wall, adam.

>> "new york times." was the punishment designed in effect to get the message across to mr. sterling there is no point in him, no advantage, there is no, nothing to be gained from him continuing his ownership? and also, in determining what the punishment would be, including the suggestion to the board of governors, did you take into account mr. sterling's past behavior or was just based on this one particular incident? >> in meting out this punishment we did not take into account his past behavior. when the board ultimately considers his overall fitness to be an owner in the in ba they will take into account a lifetime of behavior. >> fifth row in the middle. ken. >> ken berger from cbssports.com. adam, could you just explain or lay out for us what specific nower in the constitution and

bylaws you exercised with her ban and what specific, was it a broad violation or specific violation? and with respect to the forced sale, what specific section of the constitution covers that? and is that a broad violation or a specific one? >> ken, i will let the lawyers lay out for you the specific provisions you have our constitution. let's leave it we have the authority to act as i have recommended. >>th row in the back, please. >> commissioner, stephanie step from harlem community radio. is the nba considering more african-american ownership at this point. >> sorry, where am i looking? >> 8th row in the back, middle. >> sorry, could you repeat the question. >> sure. stephanie step from harlem community radio. is the nba considering more african-american ownership at this point? >> we're always open to ownership from people with all races, nationalityies ethnicities. we have an after american primary owner.

shaquille o'neil became an owner of the sacramento kings. david robinson. person important in mumbai, india, became primary owner of sacramento kings. very diverse league. i want to see it become more diverse. >> what about magic johnson is that an option at this point? >> magic johnson knows he is welcome in this league. he has been a part owner in the past of the los angeles lakers. he is always welcome and close friend of the nba family. >> on your left. >> maggie gray from si.com. did you talk to any players before you came to this decision? what about clippers players if they don't want to play for a team owned by donald sterling anymore, do they have any recourse. >> i talked to several players before rendering my decision. coincidentally i had a trip planned for this weekend. i was in memphis for a game. i was in oakland, and then i was in portland sunday night for games. i had a chance to talk directly to chris paul. i spoke to other members of the

team. i spoke extensively to doc rivers and i said, kevin johnson has been representing players interests. he and i have been talking multiple times a day. so i believe the players will be satisfied with the decision and the renderings that we've made today. if a player in the future doesn't want to play for the los angeles clippers and he is under contract, we'll deal with that when it happens. but that is not my sense of where we are right now. >> back on the left, by the cameras. >> hi. kelly night from the insider. will this situation cause you moving forward to put new rules in place for owners from the nba? >> i'm not sure. i mean, we're always willing to take a fresh look at our rules, our constitution and bylaws, but, i believe we have appropriate rules in place right now to cover a situation like this. >> second row on the left, ian. >> ian o'connor, espn. to be clear you said when specific evidence was brought to

the league you did act. so in past cases, has donald sterling ever been fined or suspended for racial or offensive remarks? in not, why not. >> he has never been suspended or fined by the league because while there have been well-documented rumors and cases filed, he was sued and, the plaintiff lost the lawsuit. that was elgin baylor. there was a case brought by the department of justice in which ultimately donald sterling settled and there was no finding of guilt. and those are the only cases that have been brought to our attention. and when those, when that those two litigations were brought they were followed closely by the league office. >> just follow-up to that one of the greatest players of all time, he elgin baylor accused donald sterling running a plantation-style franchise. did not concern you? why was that not investigated? despite the fact he lost the case he has prominent standing in the league and said some very

serious things. >> it concerned us greatly. we followed the litigation closely and ultimately elgin baylor did not prevail in that litigation. >> second row right on the right side. >> commissioner silver, brandon robinson, source magazine the obviously carmax and state farm withdrew their sponsorship with the l.a. clippers of the as you the commissioner of nba what would you tell people on the fence or people have withdrawn to want to invest in your franchises of the l.a. clippers? >> i would say those marketing partners of the clippers and partners of the entire nba should judge us by our response to this incident. i think we've responded appropriately. and i would be hopeful they would return into their business relationships with the clippers. >> on the left on the front, against the wall over there left. >> thank you, jason carroll with cnn i'm wondering if you have spoken to mr. sterling about this ban or any of his representatives? if so, what has mr. sterling's reaction been to the punishment? >> i did not speak directly to

his representatives about this ban. they were informed shortly before this press conference. i did not hear precisely what their reaction was. the reaction was? >> robert silverman from the daily beast. have there been any decisions about whether the immediate members of mr. sterling's family including rochelle and his, will be allowed to remain in ownership or managerial position? >> there have been no decisions by other members of the sterling family and i should say this ruling applies specifically to donald sterling and donald sterling's conduct only. >> on the right. >> commissioner, mike mccarthy. as you mentioned, over a dozen sponsors dropped the clippers. what has been a financial impact on this franchise and on the league from this

>> i don't know. this is all happening in three days and so i am hopeful there will be no long-term damage to the league and clippers organization but as i said earlier i am outraged so i understand other people's outrage and this will take some time and appropriate healing will be necessary. i can understand precisely with the they are people affiliated with the nba or the clippers or corporate partners, and i will do my best to come back to the nba family. in the middle, sixth row. >> john gregory from time. if the owners vote not to force the sale can you under your powers institute the lifetime ban? >> the lifetime ban has been instituted for forcing the sale of the team. >> in the middle, mike mccarl

please. >> share with your initial reaction was when you first heard the voice on the tape. >> one i first heard it i was shocked. i was hoping it was fraudulent or doctored to and wasn't in the donald sterling. i have known donald for 20 years. and they said about immediately investigating and that was my reaction to bear down as quickly as possible. >> mayor johnson coz indicated would like the lead to undertake a full accounting of donald sterling's past, and to act until now, is that and a county would be willing to undertake and would you make an effort to meet out the personal views of

other nba owners? >> i had multiple conversations with kevin johnson and i am hoping the actions we take today will satisfy our players. i believe they should. >> right in front. >> can you tell us you have known donald sterling for 20 years. what about your reaction over 20 years didn't like? have you seen anything like this? what kind of man would you judge him to be? >> i had not been close to him but nothing i have seen in his behavior that would evidence these views. because there have been a lot of public filings about his activities i have been aware of those accusations but nothing i have seen firsthand would indicate he held the views that were expressed on these audio recordings. >> back in the middle.

>> adam silver responding to donald sterling's now confirmed racist remarks. adam silver saying donald sterling, owner of the clippers did in fact acknowledge that that was him on the recordings coming down hard on him, banning donald sterling for life from the nba, from the clippers. allowed to attend games are practices for the rest of his life. he is getting the maximum fine which is $2.5 million as well as they are urging the board of governors to force a sale that would take three quarters vote from the board of governors to remove him. let's go to our panel, the inspiration for jerry mcguire, lee feinberg, sports business journal -- fox news's to brian kilmeade. what is your response? >> i thought he was brilliant. he did exactly what i predicted he would do earlier and he went ahead and exercise every single power he has, actually used the

first of his powers to ban him for life, he used the second of his powers to find him, use the third -- was very explicit in all the things he did not do. and that he would push the other owners to revoke the franchise. he could do that by an 75% vote for behavior that they feel is deleterious to the league. as i said before, i got to think this is going to defuse a lot of anger and lead to some healing. melissa: donald sterling is refusing comment but he did, and

to fox news channel contributed jim gray before the press conference began, he said the clippers not for sale and he is not selling the team but he did say he didn't know at the time the suspensions and the fan -- we will wait at the same time, and just abbreviate what he said. what does that tell you about what you think he will fight from here? >> i think he will try to be creative and he is the billionaire. he may try to transfer the team somewhere. he will be that quarterback to the team but this is his baby. they were very explicit in terms of him. and this applies to donald sterling alone. do you weigh in? >> relevant portions of the nba

constitution and bylaws over the weekend and deals with financial distressed debt. this issue in terms of bringing ill repute to the nba. that is not in that section. >> they do have the power -- >> a lot of these donors are going to wonder all so, if he can do this to sterling what happens if what happens down the road? does it become a slippery slope? liz: magic johnson taking to twitter, former and current nba players are very happy and satisfied with commissioner silver's ruling, that is what magic johnson is tweeting. brian kilmeade, what happens from here? >> a lot of drama. they will push their case forward. i am very interested to see the

follow-up questions. what were you doing up until this time? what about past incidents? did that factor in? what were you thinking of a 20 relationship with a guy with a track record like this and never before bringing him on the coffin with a fine because of past behavior. that is where the story goes. melissa: he exhibited this behavior in the past, very hard for reporters to believe but regardless, gentlemen, thanks for your tremendous insight for sticking through that thing, we appreciate it. the obama administration pushing to raise the minimum wage to $10.10 an hour. it seems they forgot one tiny little detail. 500,000 jobs that would be lost because of it. tweet me and tell me what you think. ♪ [ indistinct shouting ] [ male announcer ] time and sales data.

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melissa: melissa frances with your fox business brief. disney's ceo told maria bartiroma that future growth will come from outside the u.s.. >> the ones that i think will provide the most compelling road for us over the next decade is china. melissa: samsung profits dropped last quarter reporting less mobile sales in more than a year. samsung facing tough competition from cheaper chinese rivals. power co. energy future holdings filed for one of the biggest

bankruptcies ever after making it deal to cut billions in debt. the company was taken private by goldman sachs. in 2007 on a bet that natural gas prices will keep rusting. that is the latest on the fox business network. giving you the power to prosper.

melissa: latest chapter of the rage war, staggering numbers on the minimum-wage employment. and the white house tweeting nobody who works full time should live in poverty. president obama on why it is time to hash tag raise the wage. i responded what the cbo says, what do you say to people losing their job? you guys took it up from their tweeting responses to the white house. we ask the head administration to discuss it. it has been radio silence of far. you to break all down, prof. marcus brennan and baron senior editor jack howell. thanks for joining me. what do you think of this? they blast with a tweet, the graphic, it looks beautiful, 120 characters, they should throw it out, there's an enormous response and nothing. >> minimum wage legislation only

outlaws jobs. it does not create a single lie. that is the thing we don't need right now. it raising minimum wage will heard those who don't produce. melissa: as the president know that? >> he saw the cbo report. melissa: you would think because it is the congressional budget office and is supposed to do in a non-partisan way crunching numbers of the president and other lawmakers make a better decision. >> the same report said it would create $2 billion in extra real wages. i hope i don't get card offer taking the aside but i do think -- melissa: we welcome the other side, we asked the white house to come on. >> we had a minimum wage in this country since 1938 budget has been good for rising prosperity for the most part in america but has fallen behind inflation. raising the minimum wage is the free market position. almost half of republicans supported and the reason when you look at the people out there that pay low wages the walmarts, mcdonald's, yum brands, target and so forth, their workers have to go to food stamps, go to be earned income tax credit to make up the money to feed their families and where does that

come from? might pay. if i subsidize walmart -- melissa: what about the almost a million people the cbo says the be as high as a million, 5 ended thousand is their conservative estimate, what happens to those people who now don't have a job at all and are on unemployment? does that not cause tax dollars? >> the cbo did some scenarios looking at minimum wage to $9, $10 and said here are some things -- melissa: no economist -- >> why haven't we seen rampant unemployment over the years when we were raising the minimum wage. >> uses a floor you create a surplus, with the wage rate, surplus of excess labor, those who cannot produce, if we want to raise the wage to help people why raise it to $20 or $30 or $40? few things -- melissa: one not do that? >> you have to -- melissa: is not a silly argument. why not raise it higher? >> where does that get anyone

working in 2000 and hours a year? >> you have to find a balance, you have the thin balance of power between companies that have jobs to give them people who they needed jobs anywhere and will into work for next to nothing and the extra money to put food on their table is coming from me, the american taxpayer. melissa: and feeding people who are unemployed. what do you say to the person who loses their job, it was worth it for the other guy who has more money that you don't have. >> we are not going to get this through congress anyway so what the president is looking for -- melissa: what do you say to that person? the person who gets laid off as a result of wage going up, many business owners say they will lay off people. how do you -- >> i'm not sure it is set in stone. plenty of people don't think it will have an effect on employment. melissa: would be using? >> walmart is looking at voluntarily the idea of voluntarily raising the minimum wage that they pay even without actual -- melissa: that is voluntarily raising the wage, that is not government telling them how to run their business.

>> they're stagnant in the u.s. because their workers are also their customers and customers can't afford to shop -- melissa: sounds like they have the solution in hand, ready to raise the wage themselves. why get the government involved. >> not all of the will. the minimum wage has fallen behind, we ask last at increasing 2009. dropped 30% versus inflation over the past several decades. melissa: we are out of time. >> raise the minimum wage raise unemployment. >> not that simple. melissa: big week for the markets with the fed minutes. but now we have liz claman to tell us what we should expect in the last hour of trading today. what do you have coming up? ready to hand off to you the week have been having a great time. liz: that situation with the nba as historic and is making and we are on it and we have live reporters on the scene at the nba conference talking about how donald sterling of the clippers has been banned for life. it is acute business story. i don't know if you heard but

adam silver, the nba commissioner made reference to all of those people, all of those companies who are sponsoring the clippers. he had a very interesting comment. we will replay that and talk about the business angle of this. speaking of business this e o of mgm resorts' coming on the fox business first on fox discussion became in with gangbuster numbers. they are doing beautifully in china so it has been very good for their business. we will talk to him about a new project they are putting on a las vegas strip that has nothing to do with gambling or gaming. that is very interesting. expects it to bring in a lot of revenue. melissa: great rally out there. i will use that from now on. investors ramping up ahead of twitter's crucial earnings report. what you need to watch for a stock that has been crushed more than 30%. don't go away. peace of mind is important when you're running a successful business.

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>> with reporting its second earnings report with little more than an hour left to trade before the big report. what do you need to know to break it down? jack howell of baron's, let me start with you. what do you expect? >> i am expecting user growth to continue to decline. that has been the problem for the last couple quarters. revenue is up and strong. the estimate going in, the concern is how they're doing on engagement and user growth and those numbers are going the wrong way. melissa: investors watching and trading pricing at 11% move on this market, and you think it

could be a beat? >> setting up expectations to beat them on reporting time. and the user growth and engagement. and we expect to see strong growth in some form, hasn't been around lately for twitter. melissa: do they have a way of wrote -- how could they inspire you to think the growth was rum 1/4? >> they have to showcase a way to get users in larger numbers. the issue is for all the social network users tend to get tired of the matter of period of time experiencing that tiredness. they got the current again. the activity surrounding the basketball tweets helps them for twitter. they have got to show they can sustain those activities people are still going to twitter to break their thoughts on breaking news. if they can do that they get people inside.

melissa: that is the dichotomy of twitter. magic johnson's response on twitter, that is where you look at people respond. at the same time as reports that as many as 40% of the folks on twitter are fake. how do you reconcile that? >> the rest of the mark people to in our business would could watch on tv or self-promotion, they don't have tremendous ordinary users. it has been made simpler to follow what conversation. i am not quite sure. doesn't seem to be catching on in a way that would live up to stock valuation. they need miraculous growth to justify the stock price. melissa: thanks to both of you. slashing air fares that piling on a ton of new fees, the high cost of flying a low-fare carrier. using the overhead bin is going to cost you now. you can never have too much money. stick with innovation.

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melissa: time for spare change. frontier airlines will charge $50 for over said -- charging for personal items under the feet in front of the. travel expert mark murphy joins me, $20 for frequent-flier, $20 and of time for everyone else, if $35 and you realize you want to use the overhead bin at check-in and $50 for all the sad facts and realize the gate to pay for the been. are they going to make money on this in conjunction with lowering fees? >> in the back end, the whole idea was to make more money selling airtran by showing the cheapest fare up front that is how kayak and all of the other shopping sites arrange the affairs of frontier comes up first and gets the booking and on the back end. says the idea. melissa: people won't get better when they get to the bagels and

realize they don't want to sit on the seat, in the last minute. >> and paying at the gate, that is happening. i think people, airlines rank below the irs, already pushing back. melissa: another great one, they want to charge you in advance. if you're willing to wing it, and -- do you actually -- >> $3. they are cheaper than anybody else. and usa and american airlines are now $200? they were below a lot of other guys. melissa: winner or loser for business? >> for them is a winner. that is all we have for you. don't forget to tune in tomorrow and 2:00 p.m. eastern.

it is fed day, live coverage of t fed decision, a marked up 100 points, countdown starts right now. >> will the market's tumble merely valley today or fight the bullfight? this as we wait on twitter. battling growing pains, getting ready to report quarterly numbers "after the bell". will twitter prove it can attract new users and increase its mobil ad revenue? our all-star panel tells us whether they will score or make a crash landing. talk about a gamble paying off. in the resorts international hits the jackpot in terms of profit mostly on the backs of its casinos and hotels, stronger bookings on the las vegas strip. mgm resorts that international ceo james beer in a fox business exclusive on how he has done it and his vision for the park. new eight route dorr vegas experience. and playing for digni